BioNTech sales downturn continues

5 August 2024

German biotech BioNTech (Nasdaq: BNTX) today reported financial results for the three ended June 30, 2024, which failed to impress and sent the firm’s shares down more than 6% to $77.01 in pre-market activity.

BioNTech said that revenues for the quarter were128.7 million euros ($140.5 million), down 23% compared to 167.7 million euros for the like year ago period, mainly due to lower sales of its COVID-19 vaccines.

Net loss was 807.8 million euros compared to 190.4 million euros a year ago, and loss per share was 3.36 euros compared to 0.79 euros for the comparative prior year period.

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